re: aapl overhead supply.. 75 points? you 175 points!! that would only take it to over 600... lots of supply yes...it will not make a new high anytime soon...next real shot is release of apple they keep talking about...who knows.. I agree on today though..very good chance this is an interim bottom and could pop to 575 range fairly quickly.
AAPL up after hours... Is this the device you were talking about? Will it add on the necessary 175 points? http://www.marketwatch.com/Story/story/print?guid=5E710024-301B-11E2-97FC-002128040CF6
You know how many traders here say what they did intraday and how you should have this or that ? Well considering a chart is a chart, whether it's 15min or Daily, now it would be a good time for the "History Professors" to talk to us about Apple's next 1-2 bars, only 1-2 bars. Imagine it was a 5min or 15min chart, doing what you so easily do you know, same thing, no different. Let's hear it
from today's eIBD "The Big Picture": Apple (AAPL) showed its best daily action in several weeks. The stock slid 3.8% in the first half of the session and then reversed higher to finish with a small gain. The close was near the day's high, and volume was more than twice its usual pace â all good. Apple, though, remains 25% off its high, and couldn't avoid another weekly loss. The stock has now declined for eight weeks in a row â its longest losing streak on the weekly chart since September-October 2000. The depth of Apple's current decline also is disturbing. From the start of the bull market in March 2009, Apple has declined from a previous high 14 times. The current drop took the stock as much as 28% off its high, which is a deeper pullback than any of the declines since March 2009, including the Flash Crash of May 2010. Is Apple now finding a bottom, or is it headed lower? Given Apple's weighting in the Nasdaq (currently more than 9%) and the heavy institutional presence in the stock, the question matters to the market. If Apple is about to rebound, the stock could help pull the market out of its current ennui. If Apple is headed lower, it will be a drag on the index for some time. Yet, if institutions lighten up on Apple, that could free a lot of money to go elsewhere.
IMO: Value and Dividend Funds are getting in now that their conditions are being met. Hedge Funds that sold at higher prices to take profits at 2012 tax rates, and to cut down on their allowable stock position %, are re-buying to make the same profits over again. And all the shorties are covering as they get Squisssssshed... Will this continue all the way back up to 700, or is some of the resistance overhead thick enough to stop the ascent? We'll see. P.S. Looks a bit like a rocket launch don't you think?
you are getting way to caught up in this remember we were talking about a bounce. if you got it in the lower end your cutting down your position if its a bounce trade. i don't know where it goes but if your banking on 700 you might get hurt. if you feel economics in the world is good than its a long term thing. i don't see it but nobody knows the future.